Essay on Bank For Students - [ Best Bank Essay Of 2023 ] (2024)

Hello friends, Welcome toinfosarena.com. In this article there are 7 different types of Essay on Bankare written. This Essayare wrote in English language and arranged according to word count. You can able to get an essays of 100 words, 200 words, 400 words, 500 words and up to 1000 words in the below paragraphs.

We have prepared a lot of things insight about our Essay on Bank. This will be helpful for children to write an good Essay on Bankfrom classes 1, 2,3,4,5,6,7,8,9 to 10th. Also some information about topics related to Essay is also included in this article. LikeHow to write an good essay on Essay on Bankand many more.

Some Key Points To Remember When Writing An Essay on Bank :

Young youngsters may be confused while writing an essay for the 1st time. They may also forget to shape it properly to make it meaningful or write inappropriate records making the composition glide from the given subject matter. To assist youngsters write an excellent piece on Essay on Bank, they should be aware of those key factors that can come in accessible :

Here are key points to recall for all students when writing an Essay on Bank:

• History of BANK.
• Importance of banks.
• functions of banks.
• Types of bank.
• Conclusion.

Essay on Bank in 200 Words

The word ‘bank’ is a gift of the European language, which means ‘bench’ or ‘counter’. The banking system originated in Italy in the 14th century. Then modern banking in India began in the early 19th century. Banks are a most important part of the economy as they provide important services to both consumers and businesses.

Bank is a financial institution, where the people of the country fearlessly deposit their money. The bank also gives interest to the public on the deposited money. In today’s era, our daily life has become dependent on the bank only. Bank also provides fearlessness and security for our deposits.

There are many different types of banks in our country such as commercial banks, industrial banks, agricultural banks, co-operative banks, foreign exchange banks, central banks. Bank encourages our habit of small savings. It also Promotes the trade and commerce of the country and helps in the development of industries. Banks also provide loan opportunities for individuals and corporations.

Banks are an integral part of the economy. The bank caters to the different needs of different customers through different services. Banks have a close relationship with the society. The economic, social and political development of the nation is linked to the banks.

Short Essay on Bank in 300 Words

Introduction :

The banking system has been around for centuries. This system is prevalent in India as well as in other parts of the world. The services and functions being provided have grown over time.

History of banks :

Banking services began in parts of Italy in the 14th century. It was introduced along the lines of the concept of lending and borrowing among the people since the ancient era. In ancient times, the merchants gave loans of grain to the Banias and the farmers. This was called the barter system. But now, With the passage of time, the system of depositing money and lending money went on evolving.

The Forgers, Medicis, Berenbergs, Rothschilds are among the banking dynasties known to have played a central role in the history of banking. For centuries they have ruled this region. Some modern banking services such as the issuance of banknotes and reserve banking began in the 17th century. The Bank of England and The Royal Bank of Scotland are some of the oldest banks in the world.

History of Banks in India :

The banking system in India dates back to the Vedic civilization. In that era loans were given to the needy. And In that period the loan was known as loan letter or debenture.

In earlier times, big traders and landlords used to lend money to small traders and farmers on interest. This culture is still prevalent in some villages of the country. Those who were unable to pay the amount, their land or other valuable property was confiscated like banks nowadays.

Bank of Hindustan was the first bank established in India. It was opened in Calcutta in 1770. Then Bank of Bombay, Bank of Calcutta and Bank of Madras were established in the early 19th century.

Conclusion :

There are many types of banks in every country to meet the needs of different customers. They provide various services and also help in the development of the country’s economy.

Essay on Bank in 400 words For Students

Introduction :

Bank is an institution that collects money from the public and provides money to individuals as well as firms. These are the primary functions of a bank but not the only ones. They also provide various other services to their customers such as locker facility, transfer of funds, issuance of drafts and portfolio management etc.

Importance of banks : –

Banks are important for the individuals as well as for the development of the country’s economy. That is why these institutions have the following importance:

Provides relief and protection from fear :

Money kept at home is not safe. There is a fear of its being stolen. When you debit your money in the bank, it is the full responsibility of the bank to protect it. You don’t have to worry about its security.

Encourages savings habits :

Banks offer various schemes from time to time to encourage savings habits among people. And the money deposited in the bank is not only safe but also increases. You have the option to withdraw it at any time.

boosts trade and commerce :

Banks promote trade in the country by not only providing loans but also by providing advances to traders. It eases the process of trade between different countries. They provide the option of transacting money in a simple way to ease the process. Sending and receiving money anywhere is easy with an advanced banking system.

Boosts agriculture sector :

In agriculture sector is an important part of the economy. Also there are some special banks which provide loans to farmers at low interest to promote agricultural activities. In this way, banks provide assistance in promoting the agriculture sector.

Helps in the development of industries :

Banks accept money from individuals and businesses and give loans to industries. Thus they help in the development of various industries in this way. The loan can be repaid in easy installments.

Provides employment opportunities :

Banks provide loans for the development and progress of not only agricultural sector but also industrial sectors too. As these areas expand, employment opportunities are generated in public.

Conclusion :

Banks are an important part of any country. Modern banking services have helped ease the process of trade, development of industries and also in other activities that help in the development of the country’s economy. Banks and other financial institutions that promote the growth of businesses and protect the money and other valuable assets of individuals certainly play an integral role in the development of a country’s economy.

Essay on Bank in 500 Words in English

Introduction :

Banks play an important role in maintaining financial stability in the country. They offer a range of services to help you manage your finances better. These institutions are an important part of the society.

Primary Functions of banks :

The functions of banks are broadly classified into two categories. These are primary functions and secondary functions. Here are the details on these:

Primary functions are the main functions of banks. These basically includes, accepting money and granting loans. Here is an abbreviated form of these functions:

These accounts are basically of four different types:

Savings Accounts: These accounts encourage the public to save money. Also money can be easily withdrawn from these and deposited into the savings account without any restrictions. The interest rate in these accounts is very low.

Current Accounts: This account is exclusively for businessmen. Basically these accounts provide facilities like overdraft which are beneficial for businesses. No interest is paid in this account.

Fixed Accounts: A fixed amount of money is deposited in a fixed term account for a fixed period. Therefore the rate of interest in such deposits is high.

Recurring Account: A fixed amount is deposited in such an account at regular intervals. Interest rate is high. However, the amount cannot be withdrawn before a certain period.

Here are the types of loans and lending offered by banks:

Loans: Loans are given for both short term and long term. The rate of interest charged on the fee differents depending on the type of loan and the basis. It can be repaid in instalments.

Cash Credit: The customers have the facility of taking a fixed amount of cash which is fixed in the money limit. Also a separate Cash Credit Account should be maintained for this.

Overdraft: This facility is for merchants. Thus it is provided to the existing account holders. They are not required to maintain separate accounts to avail this facility.

Secondary function of banks :

Secondary business also known as non-banking business are of two types. These are agency functions and general utility functions. Here is a brief look at both these types of work:

The bank also acts as an agent for its customers. Many agency functions are performed by this institution. This includes collection of cheques, periodic payments, portfolio management, periodic collections and transfer of funds. Banks also act as executors, administrators, advisors and trustees for their customers. They also help their clients deal with other institutions.

Banks also perform general utility functions which include providing locker facilities, accounting for shares, dealing in foreign exchange, issuing letters of credit and drafts, preparing project reports, undertaking social welfare programs such as public welfare campaigns and adult literacy programmers. Another service provided under this is waiver of bill of exchange.

Conclusion :

Although initially the functions of banks consisted only of depositing money and providing loans. They have now provided many other services as well. All these features are aimed at helping the customers with their finances.

Long Essay on Bank in 600 Words

Introduction :

Bank is an important financial institution of the country. Bank is very important for the economy of the country. Banking system is considered an essential requirement in today’s daily life. Bank is a gift of European culture. There have been many changes in banking since independence. The people of the country deposit their money in the bank. The amount of money deposited in the bank and then interest of that amount is given to the public. Today India is providing banking services not only in cities but also in rural areas.

The banks also helps in the development of the country’s industries. Bank is like life for the financial world. Basically we can say that the production, trade and industry of any country all depend on the banking development of that country.

Bank history :

The banking system has been around since time immemorial. In Rigveda and Atharvaveda also there are many evidences of giving and taking loans. The 1st bank in the world was established in the year 1406 in Genoa, Italy. The name of this bank was St. George’s Bank. Then banking services in India started in the early 19th century. Bank of Bombay, Bank of Calcutta and Bank of Madras were started by the British East India Company.

Type of bank :

The bank is basically divided into different sectors according to the financial needs of different sectors in the economy. There are 6 main types of banks. Industrial Bank, Commercial Bank, Agricultural Bank, Foreign Exchange Bank, Central Bank, Savings Bank.

The central bank is the apex bank of the country. Also the notes of all the type of the country are printed in this bank. The central bank operates all the banks within the country.

Bank job :

The bank deposits the money of the public. The bank also pays interest on that money. Banks also give big business loans, home loans, car loans and education loans. The bank also does agency work for its customers, such as paying bills, checks for customers, paying amounts to insurance companies. Ban

A also provides locker facilities to the public. In which people can keep their valuables and important documents. All banks also offer credit cards to their customers for more flexibility.

Bank benefits : The bank works like a blood vessel in the country’s economy. Also this banks gives interest on our small amount of money, which has encouraged the public to make small savings.

Bank deposits provide mobility to capital, this leads to increase in production, employment, national income etc. Bank transactions are very transparent in nature and you can keep track of your transactions through your passbook. We can also receive direct bank account payments for paying certain expenses such as telephone bills, electricity bills, etc.

You can withdraw money from any ATM anywhere using the debit card provided by the bank.

Conclusion :

The place of the bank is considered important in the economy of any country. Banking in our country is convenient and hassle free. The Bank provides fearlessness and security for our deposits. We should use all the services of the bank so that the economy of the country remains strong. It is not possible to imagine economic development without banks.

Video of Essay on bank :

Related Essay topics :

• Essay on hockey
• Essay on Camel
• How to write good essay